Wednesday, 15 March 2017

Great potential in Burley with over 13% return

This 4 bed house on Wetherby Place in Burley is in a prime location for both students and professional renters. Located just off Burley Road it's a short journey to Burley Park train station and main commuter routes and is close to both universities. 

In it's current state, it's not a 'wow' property but it definitely has the potential to be a great rentable property especially now the price has been dropped. 

As the advert states the basement has great potential and upon viewing the property myself I could see that the basement doesn't require quite as much digging out as first thought. It has had much of the work already done but the rubble just needs removing and the concrete floors are already in. In order to create an additional bedroom down there will require mainly cosmetic work which really costs the renovation costs down. 

To make this property a great investment and to make it appealing to renters I would suggest converting the basement into a bedroom with a bathroom and updating the kitchen and decor throughout. I would also recommend re-configuring the first floor to utilise the space better. There is quite a bit of used space on the landing so if you converted the small bedroom into the bathroom and then create two long bedrooms that run from the front to the rear and install a window you create two much more even spaced bedrooms. On the top floor the bedrooms are uneven so by using some of the large landing again you could definitely even up the bedroom space. 

All this work would likely cost around £30,000. A modern property of these proportions in this area can achieve around £21,320 pa so if you were able to get the property for around £130,000 that would give you a healthy return of over 13%. 

Friday, 3 March 2017

Great Burley house with over 10% return

This 5 bed house on Knowle Place in Burley is in an ideal location for both professionals and students. It's within close proximity to all the main commuter routes and a short walk away from Burley Park train station which takes about 5-10 mins to get into Leeds City centre. 

All the bedrooms are of great proportions so very little work is required other than some minor cosmetic work meaning you'd have little void period so this property is an ideal choice for an investor looking to make a return straight away. 

A property like this would likely rent out for £20,800pa so if you were able to get the property somewhere in the region of £195,000 that would give a good return of over 10%.

Thursday, 2 March 2017

Stylish house in Burley with nearly 12% return

This 4 bed house on Stanmore View in Burley is the perfect investment for the landlord who doesn't want to spend time doing up a house and who wants to move a group in straight away. This property has been beautifully done out to a very high standard and all the space has been utilised well. 

It's located in a great part of Burley and despite the agent advising it appeals to professionals, we've let many houses to students also in this area so you are definitely broadening your market picking a house in this area. 

A 4 bed property of this standard could likely achieve £18,720pa so even if you paid the asking price of £160,000 you would get a return of nearly 12%.

Tuesday, 21 February 2017

High spec Burley house with nearly 10% return

This 5 bed house on Village Place in Burley is the perfect investment property for the investor who doesn't want to spend time and money on a 'fixer upper'. 

All the hard work has already been done and the result is a fantastically modern, high spec house. 

Due to it's location it would appeal to both students and professionals alike, broadening your reach for tenants. Understandably it's already been let out until June 2018 so you're guaranteed a return of nearly 10%. 

We've let similarly newly refurbished houses in the same area for around £90pppw so I'd say you could comfortably aim for a slightly higher rent for the following year which would give you a return of over 10%. 

Monday, 16 January 2017

Beautifully done out house in Burley with potential 11% return

This beautifully done out 3 bed property on St Anns Avenue offers the best of both worlds to an investor. It's already in a fantastic condition so could be rented out straight off the bat but there is also great potential for converting the basement in to another bedroom. 

It's in a great location that appeals to both students and professionals as it's just off Burley Road  and is in close proximity to Burley Park train station and regular bus services into Leeds City Centre. 

The Kirkstall Bridge Shopping Park is just a short journey away and there are great shopping and leisure facilities available on Kirkstall Road.

The property itself has been recently refurbished as well as having had a new boiler recently also. It could very easily be rented out straight away as it is although I would definitely recommend converting the basement to create a fourth bedroom with an additional bathroom. This work

A property of this standard, if rented out to 4 tenants could achieve £18,720pa so if you managed to get the property for around £150,000 and then spend around £10k on the work then you would get a return over 11% and a fantastic property. 

Friday, 13 January 2017

Newly refurbished house in Burley/Kirkstall with nearly 10% return

This beautifully done out property on Eden Crescent on the Burley/Kirkstall border has been finished to a very high standard. This location is of particular interest to the young professional market with it's great transport links to Leeds City Centre. It's also great for access to the surrounding areas and all the great local amenities. 

The ad mentions it could be rented out as a 4 or a 5 bed which means it could be rented out to a group of young professionals or as is ever popular as a house share. If you were to go down the route of renting it to 5 tenants you would need to fit another bathroom or at least another toilet to meet the required standards and also check if the property already has a HMO licence so that's definitely something to think about. Alternatively you could easily rent it out to 4 people.

With a house of this standard you could likely achieve around £85pppw. If you were to get the house for around £220,000 and kept the property as it is and thus rented it to 4 people you'd be looking at a healthy return of 8%. If, however, you wanted to go down the route of renting it to 5 people you could easily create a Jack-and-Jill bathroom on the first floor using the 2 larger bedrooms. This would likely cost around £3,000 which is turn would give a healthier return of almost 10%.